Create a Counter-Guarantee

Updated September 27, 2022 14:11

Fairways Guarantees enables you to associate counter-guarantees with guarantees.

Prerequisite

Create a guarantee

Navigate to the Guarantees Section

Create a Counter-Guarantee

Click the relevant guarantee to open its profile.

Navigate to Associated Counter-Guarantees.
Click Add Counter-Guarantee.

Complete the form with all relevant details.

Note: Fields marked with an asterisk * are mandatory.

Field	Description
Principal	Principal name.
Couple Counter-Guarantee End Date with Guarantee End Date	Note: This field is only available for guarantees associated with a nominal expiry date. Enable the coupling to always match the counter-guarantee end date with the guarantee end date. Disable the coupling to select a different and independent counter-guarantee end date.
Reference Code	Code referencing the counter-guarantee.
Effective Date	Start date of the counter-guarantee period.
End Date	Notes: This field is only editable if the coupling is disabled. This field is mandatory if the parent guarantee has no nominal expiry date. End date of the counter-guarantee period.
Currency	Currency of the counter-guarantee amount.
Amount	Amount of the counter-guarantee.
Impact Guaranteed Amount	How the counter-guarantee impacts the guaranteed amount: Yes: The counter-guarantee amount is deducted from the guarantee guaranteed amount. No: No impact.
Impact Financial Fees	How the counter-guarantee impacts the financial fees: Yes: The guarantee financial fees are recomputed. No: No impact.
Description	Additional details about the counter-guarantee.

Click Add Counter-Guarantee.

The counter-guarantee is associated with the guarantee.

If the counter-guarantee impacts the guaranteed amount, the counter-guarantee amount (€4 000 000) is deducted from the guaranteed amount (€8 000 000) to compute the adjusted amount (€4 000 000).

If the counter-guarantee impacts the financial fees, the financial fees are recomputed.